Vanguard Group Inc. Increases Holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS)

Key Points

• Vanguard Group Inc. increased its stake in Equity Lifestyle Properties by 0.4%, now owning over 25 million shares valued at approximately $1.68 billion.
• Equity Lifestyle Properties recently reported earnings of $0.69 per share, matching analysts' expectations, while its quarterly revenue declined by 0.8% year-over-year.
• The company declared a quarterly dividend of $0.515 per share with an annualized yield of 3.4%, although it has a payout ratio of 106.74%.

Vanguard Group Inc. raised its holdings in Equity Lifestyle Properties, Inc. (NYSE:ELS - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,151,151 shares of the real estate investment trust's stock after buying an additional 97,306 shares during the quarter. Vanguard Group Inc. owned 13.16% of Equity Lifestyle Properties worth $1,677,582,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in Equity Lifestyle Properties by 121.4% in the fourth quarter. Bessemer Group Inc. now owns 383 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 210 shares during the period. Farther Finance Advisors LLC raised its position in shares of Equity Lifestyle Properties by 78.7% during the first quarter. Farther Finance Advisors LLC now owns 1,442 shares of the real estate investment trust's stock worth $96,000 after purchasing an additional 635 shares during the period. Blue Trust Inc. raised its position in shares of Equity Lifestyle Properties by 351.6% during the first quarter. Blue Trust Inc. now owns 1,865 shares of the real estate investment trust's stock worth $124,000 after purchasing an additional 1,452 shares during the period. UMB Bank n.a. raised its position in shares of Equity Lifestyle Properties by 137.5% during the first quarter. UMB Bank n.a. now owns 2,133 shares of the real estate investment trust's stock worth $142,000 after purchasing an additional 1,235 shares during the period. Finally, Greenleaf Trust acquired a new position in shares of Equity Lifestyle Properties during the first quarter worth approximately $200,000. 97.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered Equity Lifestyle Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Truist Financial set a $68.00 target price on Equity Lifestyle Properties and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Morgan Stanley began coverage on Equity Lifestyle Properties in a report on Tuesday, July 15th. They set a "positive" rating and a $67.50 price target for the company. Wells Fargo & Company decreased their price target on Equity Lifestyle Properties from $82.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Finally, Compass Point upgraded Equity Lifestyle Properties from a "neutral" rating to a "buy" rating and set a $72.00 price target for the company in a report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Equity Lifestyle Properties has a consensus rating of "Moderate Buy" and an average price target of $71.50.

Equity Lifestyle Properties Stock Performance

NYSE:ELS traded down $0.56 during trading on Thursday, reaching $60.37. The company's stock had a trading volume of 950,012 shares, compared to its average volume of 1,537,635. The firm has a market cap of $11.70 billion, a price-to-earnings ratio of 31.28, a price-to-earnings-growth ratio of 3.21 and a beta of 0.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a 50 day moving average of $61.62 and a 200-day moving average of $64.18. Equity Lifestyle Properties, Inc. has a 12 month low of $58.15 and a 12 month high of $76.60.

Equity Lifestyle Properties (NYSE:ELS - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The real estate investment trust reported $0.69 earnings per share for the quarter, hitting the consensus estimate of $0.69. The company had revenue of $313.29 million during the quarter, compared to the consensus estimate of $377.59 million. Equity Lifestyle Properties had a return on equity of 21.12% and a net margin of 24.13%. The firm's quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. Research analysts expect that Equity Lifestyle Properties, Inc. will post 3.07 EPS for the current fiscal year.

Equity Lifestyle Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid a $0.515 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.06 annualized dividend and a yield of 3.4%. Equity Lifestyle Properties's dividend payout ratio (DPR) is currently 106.74%.

Equity Lifestyle Properties Profile

Equity LifeStyle Properties, Inc is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations.